The broker is an independent who will negotiate offers to buy credit for his client, is this the guarantee of 100% success to buy back his loans? Explanations.
Solicit a broker to redeem credit
There are two types of loan redemption, the financing to buy a mortgage to take advantage of lower rates, it is an operation supposed to reduce the amount of interest if the difference in rates is important and if the amount of fees remain moderate. The other transaction is the consolidation of credits, which aims to reduce the amount of the monthly payments, a result obtained by repurchasing several credits and extending the repayment period.
The broker can intervene in both areas, that is to say that he can work on behalf of the borrower to go to the banks and negotiate offers for loan buyback. While real estate lending is relatively straightforward to approach and compare, loan consolidation is more difficult to obtain because the requirements are more stringent. The guarantee of obtaining a 100% financing is not assured but a good broker will quickly respond to the request of the borrower by studying his file.
A study of repurchase of credit by the broker
Before sending the file to banks and credit institutions, the broker will study the situation of the borrower himself because he knows exactly the requirements of its partners and will know to which institution to direct the request. It is for this reason that brokers require supporting documents, the forgetting of a credit, a charge or any other element can weigh and it is essentially in the study of bank accounts that this information can be verified.
In addition, sending an incomplete file or that can not lead to any feasibility uncredit the broker, it is therefore attentive to the situation of the borrower and his interests. He puts all the chances on the side of the applicant to allow him to obtain an offer of financing. Some cases are also special, ie banks can pre-accept a file and then ask for additional requirements to validate the redemption of credit, it is these additional elements that can cause funding failure.
How to quickly obtain an estimate?
If the broker is not able to provide 100% collateral to its clients, it can however allow them to obtain a quick notice of feasibility without having to move or to commit to an offer to buy back loans . All that is required is to file a study request , taking care to fill in the information requested on a simulation form.
These comparative studies take into account the situation of the borrower and automatically compare it with the criteria of the credit institutions, which makes it possible to inform the borrower almost immediately of the possibilities of financing for his loan buy-back. Note that this request is free, no amount can be claimed by the broker before obtaining the funds.